EWZ, EPU: Big ETF Outflows
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 21 2024
0mins
Source: NASDAQ.COM
ETF Outflows Overview: The iShares MSCI Brazil ETF experienced the largest outflow with a decrease of 3,800,000 units, marking a 2.6% decline from the previous week.
Significant Percentage Decline: The iShares MSCI Peru and Global Exposure ETF saw the most significant percentage drop, losing 1,050,000 units, which is a 35.0% decrease compared to the prior week.
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Analyst Views on BAP
Wall Street analysts forecast BAP stock price to fall
3 Analyst Rating
1 Buy
2 Hold
0 Sell
Moderate Buy
Current: 364.280
Low
264.00
Averages
323.00
High
412.00
Current: 364.280
Low
264.00
Averages
323.00
High
412.00
About BAP
Credicorp Ltd is a Peru-based financial services holding company. The Company is organized into four lines of business: Universal Banking, Insurance and Pensions that mainly serve the overall Peruvian market, Microfinance and Investment Banking and Wealth Management that have a strong presence in Latin America. The Company has leveraged its franchises and has consolidated into a Group with more than 36,000 employees and operations mainly in six countries: Peru, Bolivia, Colombia, Chile, Panama and the United States.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Housing Market Recovery: Pending home sales in May increased by 3.8% month-over-month, significantly surpassing the expected 0.9%, marking the largest gain in 20 months, suggesting a rebound in the real estate market that may stimulate growth in related sectors.
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- FOMC Meeting Focus: The market anticipates that the Federal Reserve will keep interest rates unchanged, but the press conference by new Chair Kevin Warsh will be pivotal, as investors closely watch his outlook on inflation to guide future investment decisions.
See More
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- Retail Sales Exceed Expectations: U.S. May retail sales increased by 0.9% month-over-month, surpassing the expected 0.6%, indicating resilient consumer demand that could further stimulate economic growth and influence future monetary policy.
- Oil Price Decline Affects Market Sentiment: The agreement between the U.S. and Iran to reopen the Strait of Hormuz has led to crude oil prices dropping to a 3.5-month low, enhancing risk-on sentiment in the markets and contributing to stock gains.
- FOMC Meeting in Focus: Market participants are closely watching the outcome of the FOMC meeting, where interest rates are expected to remain unchanged, but the guidance from new Chair Kevin Warsh will significantly impact market sentiment.
See More
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- GE Vernova Rating: Bernstein initiates GE Vernova as outperform, citing the potential for U.S. natural gas to displace coal globally, thereby reducing electricity costs and providing reliable power, which could drive the stock price higher.
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- Price Range Analysis: IEMG ETF's 52-week low is $57.385 per share, with a high of $86.04, and the latest trade at $84.25 indicates stability near the high, potentially attracting investor interest in future movements.
- Technical Analysis Tool: Comparing the latest share price to the 200-day moving average provides valuable insights for investors, aiding in market trend assessment and potential buying opportunities.
- ETF Trading Mechanism: Exchange-traded funds (ETFs) trade like stocks, where investors buy and sell 'units' that can be created or destroyed based on demand, impacting liquidity and market performance.
- Inflows and Outflows Monitoring: Weekly monitoring of changes in shares outstanding helps identify ETFs experiencing notable inflows (new units created) or outflows (old units destroyed), assessing their impact on underlying assets and market sentiment.
See More
J.P. Morgan Downgrades Credicorp and Intercorp Ratings Amid Political Uncertainty
- Rating Downgrade: J.P. Morgan downgraded Credicorp (BAP) and Intercorp Financial Services (IFS) from Overweight to Neutral primarily due to a lack of clarity surrounding Peru's political transition, although analysts maintain a positive outlook for Peru.
- Market Performance Comparison: BAP and IFS now trade at P/B ratios of 2.5x and 1.7x, respectively, with year-to-date gains of approximately 28% to 32%, contrasting with Mexican banks down 15% to up 20% and Brazilian banks down 28% to up 10%, indicating relative strength in Peruvian bank stocks.
- Potential Risks and Opportunities: Analysts noted that current valuations do not fully reflect the uncertainties of political transition and potential El Niño impacts, while also highlighting upside catalysts such as a pro-market election outcome and a supportive Congress.
- Divergent Ratings: While Seeking Alpha rates BAP as Hold, Wall Street analysts give it a Buy rating, and IFS receives a Buy from SA authors and a Strong Buy from sell-side analysts, indicating differing market perceptions of these companies.
See More
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- Buenaventura Mining Performance: Buenaventura Mining saw a rise of approximately 1.3% on Tuesday, with over 722,000 shares traded, indicating sustained investor interest that may reflect confidence in its future growth prospects.
- Credicorp Strong Rebound: Credicorp's stock increased by about 8.7% on a volume exceeding 641,000 shares, suggesting positive market expectations regarding its financial health, which could attract more investor attention to its potential earnings.
- Intercorp Financial Services Leading: Intercorp Financial Services was the top performer on Tuesday, with a rise of about 10.6%, likely due to market recognition of its business model, further enhancing its competitiveness in the financial services sector.
- Southern Copper Lagging: Southern Copper's stock increased by approximately 1.2%, showing some market support despite lagging behind other components, which may reflect investor optimism regarding its long-term value.
See More
